Regional Vice President of Sales The Retirement Plan Company
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Bates & Company, Inc.
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AimPoint Pension
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Loan & Distribution Specialist AimPoint Pension
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Compass
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How to Retire Without Saving Millions
Motley Fool Aug. 29, 2008 Excerpt: If you want your retirement nest egg to last as long as you do, the general rule of thumb is that you should withdraw 4% of the initial value of your diversified portfolio, adjusted each year for inflation. With that rate, you can be fairly confident that you won't run out of cash before you leave this world. Only there's one small problem. That 4% rule means that for every $10,000 in income you're trying to replace, you'll need to have $250,000 worth of savings. To replace, say, a $40,000 salary, you'll have to amass a cool $1 million. |
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